The Sensex rose for a fifth consecutive session on Tuesday, with drugmaker Cipla jumping after reporting a surge in quarterly earnings while State Bank of India rose on hopes of rising demand for loans in the holiday season.
However, the recent gains have come amid largely cautious sentiment as investors wait for the U.S. election results, and as uncertainty prevails over Greece's next aid payment.
Quarterly results from blue chips such as Tata Motors
"Markets will make an attempt to go up further, and is optimistic that government will come out with next round of reforms which should kick start the investment cycle," said Mehraboon Irani, principal and head of private client group at Nirmal Bang Securities.
The investment cycle would be stoked by action on issues such as National Investment Bill, land acquisition and clear coal linkages, Irani added.
0.29 percent, or 54.51 points, to end at 18,817.38, bringing its gains to 2.1 percent over the past five sessions.
The Nifty rose 0.35 percent, or 20.20 points, to 5,724.40, gaining over 2.26 percent over the previous five sessions.
Shares in Cipla
Despite the surge in share prices, Citigroup said on Tuesday it remains cautious on Cipla, adding that the earnings surprise was mainly driven by the generic version of anti-depressant drug Lexapro, whose exclusivity would tail off in the second half of the fiscal year.
State Bank of India rose 1.3 percent ahead of its September quarter results on Friday.
Property firms gained, with Housing Development & Infrastructure Ltd
Cement makers extended a recent winning streak on continued hopes that cement prices will rise on the back of stronger seasonal demand.
Shares in Amara Raja Batteries
Angel Broking said the battery maker posted "extremely strong results," adding that earnings growth was driven by the automotive battery replacement segment, as well as by momentum in the tubular and home uninterruptible power supply (UPS) segment.
However, among stocks that fell, Tata Motors